The Menlo Park, California-based Facebook Inc (NASDAQ:FB) shares plunged 4% to a lowest level and marked the fifth straight day of drops after the company announced earnings that showed slowing expansion.
Shares of Facebook, the world’s largest social-networking service, plunged to $20.04 at the close in New York. Shares of the company earlier plunged almost $19.82 and marked the lowest intraday price since the corporation held an IPO on May 17. Shares of corporation have plunged 47% since the Initial Public Offering.
Senior executives of Facebook Katie Mitic and Ethan Beard reported on Thursday that they were quitting Facebook to track other options, bringing to 3 the number of high-profile management quits since the Initial Public Offerings.
Wedge Partners Corp analyst Martin Pyykkonen stated that the quits compounded investor fears regarding Facebook’s prospects for expansion as sales and user growth slowed in the Q2.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. MeetMe Inc (NYSEAMEX:MEET) fell -7.25% to settle at $1.79, Local.com Corp (NASDAQ:LOCM) moved up +0.45% to end at $2.21 while Physicians Formula Holdings, Inc. (NASDAQ:FACE) plunged -2.86% to finish on Thursday at $3.40.
Facebook Inc (NASDAQ:FB) last session volume of 56.37 million shares was higher than its average volume of 26.41 million shares. The stock after opening at $20.77 hit high price of $20.84 and then closed at $20.04 by scoring -4.02%.
FB generated revenue of 3.71 billion in the following twelve months and earned $668.00 million. The Company showed a positive +26.95% in the net profit margin and as well as in its operating margin which remained +47.32%.
The FB past twelve months price to sales ratio was 11.55 and price to cash ratio remained 10.96.
The stock showed weekly downbeat performance of -25.36% which was maintained for the month at –35.77%. Likewise the negative YTD performance remained at -47.58%.
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